Regaining financial independence without leaving home

101 Uses for a Reverse Mortgage

Real stories. Real solutions.

Welcome back to our series, 101 Uses for a Reverse Mortgage, where we highlight the unexpected, practical ways Australians are using reverse mortgages to create security, freedom, and financial independence in retirement.

Each week, we bust the myths surrounding these loans by sharing real case studies* — no hype, no jargon, just real people solving real challenges with the right guidance and advice.

Case Study #2: Regaining Financial Independence Without Leaving Home

Client Profile:

• 72-year-old woman
• Sole income: Single Age Pension
• Living in a home co-owned with her daughter and son-in-law (jointly owned in three names)
• Wanted full ownership and financial separation

Challenge

Years ago, her Sydney home was placed in joint names with her daughter and son-in-law due to a business arrangement. But over time, the personal and financial dynamics changed — and she no longer wanted to be financially tied to them.

She initially came to us wanting to sell the home (held in three names), pay out the $250K mortgage (also in three names), and buy another property nearby using the remaining funds. But during our process, she realised she didn’t want a new home — she just wanted independence.

Solution

She wasn’t facing a housing problem — she was facing a freedom problem. So instead of selling and buying again, we proposed another route: what if she used a reverse mortgage to refinance the $250K loan and transfer the home into her name?

Her borrowing power was around $350K — enough to:

• Pay out the existing traditional mortgage
• Cover stamp duty on the title transfer
• Handle all legal and associated fees

She didn’t need to move. She didn’t need to start over. She simply needed to reclaim what was already hers — on her own terms.

The Outcome

She stayed in the home she loved — but with full ownership and no financial ties to her daughter or son-in-law. With the reverse mortgage, she’s not required to make repayments during the loan term, and the loan will be repaid when the home is eventually sold.

This outcome gave her the security, freedom, and peace of mind she was really looking for — without:

• Real estate agent fees
• Marketing costs
• Stamp duty on a new purchase
• The stress of inspections or house hunting

This wasn’t just a financial transaction — it was a fresh start.

Why This Matters

Not every retiree wants to sell their home. For many, it’s not about upgrading or moving — it’s about reclaiming control and creating peace of mind. A reverse mortgage can unlock that possibility, often in ways people never expect.

Follow us as we continue to share real-life stories from clients who’ve used reverse mortgages not just to stay afloat — but to move forward.

*This case study is based on a real client scenario, however names and identifying details have been changed to protect the privacy and confidentiality of the individuals involved. The information is general in nature and does not constitute personal financial advice. Outcomes described are specific to this client’s circumstances and may not be typical. Always seek professional advice tailored to your individual situation before making financial decisions.